Daily Market Analysis: Bitcoin in a Correction Trend
Daily Market Analysis: Bitcoin in a Correction Trend
Bitcoin is currently undergoing an impressive technical correction of about 5% , with signs of re-accumulation. It appears we are in the midst of an accumulation phase on the 4-hour chart ⏳, with a possibility of a decline to the $84,000 area per coin before resuming the upward trend .
Technically: We are at the peak of the bullish trend, and at this stage, the market does not show signs of upward tension, which may support the current stability.
Fundamentally: Today, three CPI reports with positive forecasts are expected, potentially prompting temporary declines until 15:30, followed by a significant jump. Even if the reports are released with a slight delay and the results come out later in the evening, this is an accumulation process with potential for record levels .
Bitcoin is currently undergoing an impressive technical correction of about 5% , with signs of re-accumulation. It appears we are in the midst of an accumulation phase on the 4-hour chart ⏳, with a possibility of a decline to the $84,000 area per coin before resuming the upward trend .
Technically: We are at the peak of the bullish trend, and at this stage, the market does not show signs of upward tension, which may support the current stability.
Fundamentally: Today, three CPI reports with positive forecasts are expected, potentially prompting temporary declines until 15:30, followed by a significant jump. Even if the reports are released with a slight delay and the results come out later in the evening, this is an accumulation process with potential for record levels .
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